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Poignant post on the state of things (lemmy.world)
submitted 2 years ago by to c/aboringdystopia@lemmy.world
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[–] 1 point 2 years ago (5 children)

Okay, but what sort of regulation? How would stocks work differently than they do now?

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  • [–] 1 point 2 years ago (4 children)

    The value would reflect ACTUAL productivity and not the amount that CEOs pay themselves.

    Watch Tesla slow burn over this exact issue. Hopefully every company engaging in greedflation has the same fate.

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  • [–] 1 point 2 years ago (3 children)

    How do you determine that value?

    Currently the value of a stock is whatever someone is willing to pay for it. Who decides what the value should be, in your scenario? A government department?

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  • [–] 1 point 2 years ago* (2 children)

    If necessary, yes. Otherwise its just fraud. "Whatever someone is willing to pay" doesnr make a thing valuable; it just makes the buyer stupid. If I sell you a rusty old tricycle for $6000 just because you have a psychotic nostalgia for it, the value of old rusty tricycles doesnt become $6000.

    Elon bought Xitter at what, $45/share? It was never worth that much...he tried to manipulate the stock value (i. e. commit fraud) and a government official forced him to commit.

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  • [–] 1 point 2 years ago (1 child)

    That would work maybe...so you'd have a government body to assess companies like houses are currently assessed. Sounds expensive though. We'd need to raise taxes, which is probably a good thing anyway

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